One of the key challenges facing all businesses, including insurers, is ensuring that critical business information doesn’t disappear into a silo somewhere within the business. It’s a common occurrence where one team develops a new way of working but somehow that’s not communicated to other teams. The business benefits, which could have been dramatic, are…
We follow industry news closely here at Riskheads and when we heard that Insure the Box had picked up a best performer award for their telematics offering in 2013 we wanted to know what made them special. We’re pleased to report that they have developed a highly innovative product offering in the car insurance market…
Please Note: This article has been amended since the original publication date following clarification from SpatialKey. One big challenge facing insurers is how to accurately assess flood risk. Given that flood damage is usually substantial and costly; it’s vital for insurers to be able to develop premiums that reflect the genuine level of risk involved…
The world has changed dramatically over the last 50 years. Technology has driven consumer choice and changes in the way people buy products and interact with their vendors. Insurance brokers are being dragged into a digital age whether they like it or not. People want to be able to access their service providers from their…
The Two Key Drivers for Insurance Technology for the Coming Years Insurers may have been a little late getting on board with the opportunities offered by new technologies but there’s a sense of optimism in the air now. The standard drivers for technology adoption haven’t changed very much over the years: Reducing Risk – The…
Take any technology and given enough time people will find ingenious ways to use it. In Russia the use of dashboard cameras (dashcams) has become a key feature of daily life. The footage they’ve captured over there has led to a spate of interesting YouTube videos like this mildly disturbing video of a meteor strike…
Insurers are pretty well-informed that customer experience is the key to running a good business. The problem is that when it comes to asking for investment in customer experience it’s easy for the executive team to turn down because it’s not clear where the return on investment is coming from. Chief Information Officers understand that…
Insurance, like nearly every industry, has its giants. They hold a dominant share of customer spending and at times the smaller broker must despair of their chances against these titans. They can spend more on advertising, more on marketing and reach more potential clients and as their market share rises – they can do this…
